Three leading lenders have been working hard these last few months to craft new television campaigns promoting reverse mortgages. Images of seniors enjoying that long-awaited vacation have been replaced with conversations about how the product has enabled borrowers to pay medical expenses and stay in their homes. Now, the focus rests squarely on the stability a HECM can bring to one’s retirement.
While each lender has taken a different approach to their messaging, one common thread remains: a mission to educate consumers and represent the product as a smart financial tool for retirement.
Collectively, the reverse mortgage commercials airing on TV right now have a definite impact on public perception. While the industry is admittedly fighting a tough battle as it works to address skeptics and negate misconception, many are confident that we can do this through smart, consistent and quality messaging. Together, we can chip away at the negativity, reshaping the way consumers view the product and ushering it into the mainstream.